Forgotten World (224): San Marino
Landlocked San Marino, totally surrounded by Italy, is one of the world’s smallest countries. In size it is only 61 square kilometre (23.6 square miles) and the population is a mere 32,000. In 1862, a friendship and cooperation treaty with Italy, which has since been revised and expanded, reinforced San Marino’s independence.
Tourism dominates the economy of the republic, which plays host to more than three million visitors every year. Postage stamps and coins – keenly sought by collectors – are important sources of revenue. It functions as a tax haven but, in the wake of the global financial crisis of 2008-9, this status has come increasingly under threat.